BEIJING ¨C Flanked by models in white sequin dresses amid booming music and dazzling lights, China¡¯s richest man savored his latest entertainment triumph this week: the announcement of a $3.5 billion deal to take over a Hollywood blockbuster movie studio.
Acquiring Legendary Entertainment on Tuesday puts Wang Jianlin and his conglomerate, the Dalian Wanda Group, a step closer to the ultimate goal: a movie empire underpinning a globally recognized, household name to rival Google, Apple or Microsoft.
¡°The acquisition of Legendary strengthens Wanda¡¯s entertainment ecosystem in China,¡± said David Hao, an analyst at Credit Suisse Group AG in Hong Kong. ¡°I would expect Wanda Group and Wanda Cinema to continue acquiring high-quality cinemas and online ticketing platforms both overseas and in China to further solidify its positions as the world¡¯s largest cinema operator.¡±
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.